Voleon Capital Management LP Sells 12,381 Shares of Consolidated Edison Inc $ED

Key Points

• Voleon Capital Management LP significantly reduced its stake in Consolidated Edison Inc by 65.5%, holding only 6,514 shares after selling 12,381 shares in the first quarter.
• Analyst ratings on Consolidated Edison are mixed, with three analysts recommending a Buy, six a Hold, and three a Sell, resulting in an average rating of "Hold."
• Consolidated Edison announced a quarterly dividend of $0.85 per share, representing a 3.5% yield, with the payout ratio currently at 61.71%.

Voleon Capital Management LP decreased its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 65.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,514 shares of the utilities provider's stock after selling 12,381 shares during the quarter. Voleon Capital Management LP's holdings in Consolidated Edison were worth $720,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ED. Alpine Bank Wealth Management purchased a new stake in shares of Consolidated Edison during the first quarter valued at approximately $32,000. Fort Vancouver Investment Management LLC purchased a new stake in Consolidated Edison in the first quarter worth approximately $33,000. Financial Network Wealth Advisors LLC purchased a new stake in Consolidated Edison in the first quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Wood Tarver Financial Group LLC purchased a new stake in Consolidated Edison in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

Shares of ED traded down $0.16 during trading hours on Friday, reaching $97.54. 1,249,436 shares of the stock traded hands, compared to its average volume of 2,634,055. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The company's 50-day moving average price is $100.92 and its two-hundred day moving average price is $103.90. The company has a market cap of $35.18 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.72 and a beta of 0.28.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The company had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter in the previous year, the company earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison's payout ratio is 61.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Mizuho raised their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of Consolidated Edison in a research report on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of "Hold" and a consensus price target of $105.82.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.